Filed Under:Claims, Auto

State's Bad-Faith Reforms Have Reduced Auto Liability Costs By $200M

IRC Assesses Impact of West Virginia Legislation

Today the Insurance Research Council (IRC) announced the results of its recent report analyzing the impact of third-party bad-faith reforms adopted in West Virginia.

Based on its findings, IRC estimates that the Third-Party Bad-Faith Act (S.B. 418) introduced by West Virginia state legislature has reduced underlying insurance coverage costs by about $200 million in the five-year period since the reforms were enacted.

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